The Goldman Sachs Group started coverage on shares of Revance Therapeutics (NASDAQ:RVNC – Get Rating) in a research note released on Thursday morning, The Fly reports. The firm issued a buy rating and a $33.00 target price on the biopharmaceutical company's stock.
RVNC has been the subject of a number of other research reports. Barclays increased their price objective on shares of Revance Therapeutics from $22.00 to $35.00 and gave the company an overweight rating in a report on Friday, September 9th. StockNews.com upgraded shares of Revance Therapeutics from a sell rating to a hold rating in a report on Monday. Wells Fargo & Company increased their price objective on shares of Revance Therapeutics from $17.00 to $24.00 and gave the company an equal weight rating in a report on Thursday, August 25th. Mizuho increased their price objective on shares of Revance Therapeutics from $26.00 to $30.00 and gave the company a buy rating in a report on Friday, September 9th. Finally, Cowen raised their price target on shares of Revance Therapeutics from $55.00 to $65.00 in a report on Thursday, September 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $39.00.
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RVNC opened at $25.56 on Thursday. Revance Therapeutics has a twelve month low of $11.27 and a twelve month high of $30.00. The company has a quick ratio of 3.20, a current ratio of 3.38 and a debt-to-equity ratio of 14.80. The company has a 50-day moving average price of $20.70 and a 200 day moving average price of $17.51. The company has a market cap of $1.87 billion, a PE ratio of -6.64 and a beta of 0.92.
Revance Therapeutics (NASDAQ:RVNC – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.03. The firm had revenue of $28.37 million during the quarter, compared to the consensus estimate of $27.64 million. Revance Therapeutics had a negative net margin of 265.04% and a negative return on equity of 497.77%. Sell-side analysts expect that Revance Therapeutics will post -3.69 earnings per share for the current fiscal year.Insider Buying and Selling at Revance Therapeutics
In other news, SVP Dwight Moxie sold 11,000 shares of Revance Therapeutics stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $27.07, for a total transaction of $297,770.00. Following the completion of the sale, the senior vice president now directly owns 31,694 shares of the company's stock, valued at approximately $857,956.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Revance Therapeutics
Institutional investors have recently modified their holdings of the company. Palo Alto Investors LP lifted its position in shares of Revance Therapeutics by 1.1% during the 1st quarter. Palo Alto Investors LP now owns 4,415,689 shares of the biopharmaceutical company's stock worth $86,106,000 after purchasing an additional 46,323 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Revance Therapeutics by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 131,661 shares of the biopharmaceutical company's stock worth $2,149,000 after acquiring an additional 8,801 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Revance Therapeutics during the 1st quarter worth $3,902,000. Point72 Asset Management L.P. raised its stake in Revance Therapeutics by 16.8% during the 4th quarter. Point72 Asset Management L.P. now owns 881,482 shares of the biopharmaceutical company's stock worth $14,386,000 after acquiring an additional 126,682 shares in the last quarter. Finally, Waypoint Capital Advisors LLC acquired a new stake in Revance Therapeutics during the 1st quarter worth $1,016,000. 77.08% of the stock is owned by hedge funds and other institutional investors.
Revance Therapeutics Company Profile
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Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company's lead drug candidate is DaxibotulinumtoxinA for injection, which has completed phase III clinical trials for the treatment of glabellar (frown) lines and cervical dystonia; is in phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.
Further Reading
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